An annuity pays $12 per year for 47 years. What is the future value (FV) of this annuity at the end of that 47 years given that the discount rate is OA. $3,950.69 OB. $2,370.41 $5.520 97

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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An annuity pays $12 per year for 47 years. What is the future value (FV) of this annuity at the end of that 47 years given that the discount rate is 7%?
A. $3,950.69
B. $2,370.41
C. $5,530.97
D. $4,740.83
Transcribed Image Text:An annuity pays $12 per year for 47 years. What is the future value (FV) of this annuity at the end of that 47 years given that the discount rate is 7%? A. $3,950.69 B. $2,370.41 C. $5,530.97 D. $4,740.83
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